88E (ASX) Oil Flowing then Buyer Coming In

Originally posted by docmin24: ↑

88E going remarkably well, been watching this like a hawk, really wanting to maximise one's profits. Just finding the right time to sell and take a large parcel to free carry is still my preference and trying not to being influenced by the market hype and using technical's and fundamentals. But something is going on here which is a new experience for me!

Going over yesterdays announcement which is seriously a game changer for me. Why would ELKO do this, seriously there's more to this than I had originally thought. IMO2 possibilities going on here, oil flowing or buyer, IMO both might now surface in coming weeks, confident of this now and my exit strategy has changed.

Both DW and Eric ELKO were involved with XCD for some time as I highlighted yesterday and 88 took over this company, becoming crystal clear now to me of why!

1. So the driller wants shares, not cash - must be so confident oil will flow or buyer coming imo.
2. DW resigns after putting so much work into this he marketed this company exceptionally well, got FO's and CR's, kept company going after multiple failures and now says to the market which is a first I have ever seen from any director - "We wish all our shareholders good fortune over the coming days.” Do not understate this comment. I personally know how professional a director DW is. So imo DW is confident of oil flowing or buyer coming imo.
3. Plus buying Umat next door. There is a much bigger picture going on, sure of that now!
4. The global market going off big time, something is happening here and it's not just about this drill imo.

So either I have been totally out played here by the global pumping market hype or actually these 2 guys are absolute legends and now going to reward LTH's by what they have said and done over the past few months and especially what has been done in the last day or so. We know the drill just hit the ground before ELKO decided shares were the best option.

So considering this and aligning the planet as to speak, I am now strongly heading to the belief that oil is there and there might be some truth about Conoco or someone else wanting to take over 88E. Maybe with Bidden's restrictions and these established oilers now wanting our land and 88 is in demand and this would be a well deserved parting gift to all holders if this was to actually happen. Oil price up and oil is still a valuable commodity. Plus not a lot of exploration and new exploration has been stopped by Bidden. We are in the right place and right time here. I know Dave's plan was always to take 88E to a buyer, never production and maybe big oilers now circling and I don't entertain conspiracy theories lightly.

Just saying that something bigger is happening here and it's not just this well imo. So I am not selling just at the minute and holding, suspect SP will continue to increase and bigger news will come in next few days. Or I have got it all so wrong and just been sucked into the biggest ramp in history lol.. Time will tell.

If what I am saying happens then I would eat humble pie and be the first to congratulate Dave and 88 as I have been very critical over the past few years and rightly so imo. DW and Eric could well be oil geniuses and played the ultimate master plan and if this happens and some holders would have a pleasant life changing decision to make and retire.

What interesting times lie ahead for the holders. Keep it going 88 and hope oil flows this time. All the best and GLTA..

Expand

DW might be leaving to join the bigger boy interested in buying us out. Pure speculation but has to be considered...

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(20min delay)
Last 0.4¢		Change -0.001(20.0%)		Mkt cap ! $100.4M

Open	High	Low	Value	Volume
0.4¢	0.4¢	0.3¢	$2.353M	589.7M


Last 0.4¢		Change -0.001 ( 11.1 %)
Open	High	Low	Volume
0.4¢	0.5¢	0.4¢	140637397
Last updated 15.59pm 25/04/2024 ?

Oil Flowing then Buyer Coming In, page-2

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